Morning Bid: Blockade takes its toll

By Mike Dolan

Mon, April 13, 2026 astatine 5:50 AM CDT 5 min read

By Mike Dolan

April 13 -

What matters successful U.S. and planetary markets today

By Mike Dolan https://www.reuters.com/authors/mike-dolan/, Editor-at-Large, Finance and Markets

Oil prices zoomed backmost supra https://www.reuters.com/business/energy/oil-bounces-back-above-100-after-us-iran-talks-end-stalemate-2026-04-12/ $100 a tube and planetary stocks were shaky https://www.reuters.com/world/china/global-markets-wrapup-1-2026-04-12/ connected Monday arsenic U.S. President Donald Trump sought to blockade https://www.reuters.com/world/middle-east/us-blockade-iran-after-talks-fail-yield-a-deal-2026-04-13/ postulation to and from Iranian ‌ports successful the captious Strait of Hormuz aft bid talks successful Islamabad failed implicit the weekend.

It’s not wide whether the nonaccomplishment of the talks jeopardises ‌the two-week ceasefire announced past week https://www.reuters.com/world/asia-pacific/iran-defiant-eve-trumps-ceasefire-deadline-2026-04-07/, but Trump’s effort to up the ante by sending the U.S. Navy into the Gulf is already starting to unwind immoderate of past week’s alleviation rally.

I’ll get into ​that and much below.

But first, perceive to the latest occurrence of the Morning Bid regular podcast https://www.reuters.com/podcasts/reuters-morning-bid/blockade-hard-place-2026-04-13/, wherever I interruption down the latest twist successful the U.S.-Iran warfare - and wherefore markets should attraction astir Viktor Orban's predetermination decision successful Hungary.

And finally, don't hide to people April 23 successful your calendar, erstwhile I'll beryllium joining my ROI workfellow Jamie McGeever for a timely webinar treatment connected rethinking safe-haven assets successful uncertain times. Sign up present https://www.lseg.com/en/training/learning-centre/learning-centre-catalogue/course-details?id=markets-unpacked-with-reuters-open-interest-rethinking-safe-havens-in-uncertain-times-en-webex.

BLOCKADE TAKES ITS TOLL

Both Brent and WTI crude leapt backmost supra $100 a tube https://www.reuters.com/business/energy/oil-bounces-back-above-100-after-us-iran-talks-end-stalemate-2026-04-12/ connected Monday arsenic ‌the U.S. Navy prepared its Hormuz blockade, acceptable to travel ⁠into effect astatine 10 a.m. EDT, though the benchmarks stay beneath past week’s highs earlier the ceasefire announcement.

Wall Street futures were down astir 1% https://www.reuters.com/world/asia-pacific/wall-street-futures-drop-after-us-iran-peace-talks-fail-2026-04-13/ earlier the doorbell and European shares slipped https://www.reuters.com/markets/europe/european-shares-poised-open-lower-middle-east-talks-fail-2026-04-13/, portion large Asian indexes closed lower. The dollar precocious https://www.reuters.com/world/asia-pacific/dollar-strengthens-peace-talks-falter-us-blockade-irans-ports-begin-2026-04-12/ against ⁠major currencies successful aboriginal trading but aboriginal pared immoderate of those gains.